Making climate finance work for all: Five tests for a robust New Collective Quantified Goal (NCQG)

This year, at the United Nations climate conference in Azerbaijan (COP29), countries are due to agree a new global finance goal to cut greenhouse gas emissions, boost resilience, help communities adapt to the impacts of climate change, and cover the costs of loss and damage. It is critical that this New Collective Quantified Goal, or NCQG, reflects the lessons learned over the last 15 years, restores trust in the multilateral process, and equips countries to respond to rapidly escalating challenges. This report sets out key principles and five tests that can help ensure the NCQG is robust, all of which are underpinned by a core principle of fairness.